Time Inc. employees offered voluntary buyouts

All Things Digital reports Time Inc. has asked its employees to volunteer for a buyout program. The buyouts are part of  plan to cut 600 jobs at the company. Time Inc. owns several prominent magazines, including Fortune and Money. 

Fortune sent a memo to its staff, asking employees in the "writer-editor, writer-reporter, designer, editorial assistant and copy coordinator" categories to take buyout offers. The memo also stated that if enough employees do not step forward, the company will "need to begin a process of involuntary layoffs." 

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